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This article is more than 3 year old.

Mixed signals for markets today as new norms kick in & global cues show recovery

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With the new financial year beginning today, the new norms and positive global cues indicate mixed signals for markets today.

Mixed signals for markets today as new norms kick in & global cues show recovery
With the new financial year beginning today, the new norms and positive global cues indicate mixed signals for markets today.
In global markets, the Singaporean index, the SGX Nifty, is trading at 10,230 levels as against Nifty March Future's close on Wednesday, where the index stood at 10,115. This indicates that there might be a gap-up opening on Dalal Street today.
Weak global cues pulled down the markets on Wednesday, with the markets going back in correction mode.
The F&O expiration on Wednesday, the March series close, also lent a hand in pulling down the benchmark indices before the long weekend.
The BSE Sensex lost 2.3% and the NSE 50-share Nifty lost 2.4%. The fear of global trade wars and the global markets correction mode pulled down the Indian market’s performance this month.
As per the trend, if the March series closed in the red, then the April one will too.  The April series is important as we saw 69% of the rollovers being picked up last month. The series is starting slightly heavier than the last series as the FIIs are short and the exposure stands at 18%.
The economy is set to enforce its new norms today as discussed in the Budget 2018. The Long Terms Capital Gains Tax (LTCG) and the e-way bill are two major moves that can have a negative impact on the markets.
When the LTCG was announced, the markets witnessed a bloodbath for a week with the indices losing over 1,000 points.
On Wednesday, the BSE Sensex closed below 33,000 levels at 32,968 points and the NSE Nifty held on to its 10,100 levels closing at 10,121 points.